Paylocity Holding Co. (NASDAQ:PCTY) Given Consensus Rating of “Moderate Buy” by Brokerages

Paylocity Holding Co. (NASDAQ:PCTY) has been given an average rating of “Moderate Buy” by the fourteen ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $205.71.

PCTY has been the topic of a number of analyst reports. TD Cowen increased their price objective on Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a report on Monday, December 9th. BMO Capital Markets lifted their price target on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Barclays upped their price objective on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, KeyCorp upped their price target on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st.

Paylocity Trading Up 0.3 %

Shares of NASDAQ:PCTY opened at $196.83 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $10.97 billion, a PE ratio of 50.34, a P/E/G ratio of 4.93 and a beta of 0.92. Paylocity has a 1 year low of $129.94 and a 1 year high of $215.68. The firm has a fifty day moving average price of $195.46 and a 200 day moving average price of $166.05.

Insider Buying and Selling at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. The trade was a 1.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now owns 14,634 shares of the company’s stock, valued at $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 151,193 shares of company stock valued at $30,460,258 in the last 90 days. 21.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paylocity

Several large investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its stake in Paylocity by 3.2% during the third quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock worth $47,389,000 after buying an additional 8,878 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Paylocity by 207.0% in the 3rd quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock worth $1,458,000 after acquiring an additional 5,958 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Paylocity during the 3rd quarter worth approximately $239,000. Geode Capital Management LLC increased its holdings in Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after purchasing an additional 36,590 shares in the last quarter. Finally, Vestcor Inc raised its position in Paylocity by 943.8% in the 3rd quarter. Vestcor Inc now owns 10,000 shares of the software maker’s stock valued at $1,650,000 after purchasing an additional 9,042 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.